Blueberries Medical Announces C$1 Million Non-Brokered Private Placement
Blueberries Medical Corp (CSE: BBM) (OTC: BBRRF) has announced a non-brokered private placement of 96,064,935 common shares at C$0.011 per share, aiming to raise approximately C$1.05 million (US$740,000). The offering is expected to close on March 25, 2025.
The placement will be led by Terraflos Inc, a Latin American company controlled by Facundo Garreton, who serves as Blueberries' Chairman, CEO, and director. The proceeds will be used to fund and expand operations, and for general corporate and working capital purposes.
Following the offering, Garreton's ownership through Terraflos will increase to approximately 62.67% of outstanding Common Shares on a partially diluted basis, up from 61.23% prior to the offering. The transaction qualifies as a related party transaction but is exempt from formal valuation and minority shareholder approval requirements.
Blueberries Medical Corp (CSE: BBM) (OTC: BBRRF) ha annunciato un collocamento privato non intermediato di 96.064.935 azioni ordinarie a C$0,011 per azione, con l'obiettivo di raccogliere circa C$1,05 milioni (US$740.000). Si prevede che l'offerta si chiuda il 25 marzo 2025.
Il collocamento sarà guidato da Terraflos Inc, una società latinoamericana controllata da Facundo Garreton, che ricopre il ruolo di Presidente, CEO e direttore di Blueberries. I proventi saranno utilizzati per finanziare ed espandere le operazioni, oltre che per scopi generali aziendali e di capitale circolante.
Dopo l'offerta, la proprietà di Garreton tramite Terraflos aumenterà a circa 62,67% delle azioni ordinarie in circolazione su base parzialmente diluita, rispetto al 61,23% prima dell'offerta. La transazione è considerata una transazione tra parti correlate, ma è esente dai requisiti di valutazione formale e approvazione degli azionisti di minoranza.
Blueberries Medical Corp (CSE: BBM) (OTC: BBRRF) ha anunciado una colocación privada no intermediada de 96.064.935 acciones comunes a C$0.011 por acción, con el objetivo de recaudar aproximadamente C$1.05 millones (US$740.000). Se espera que la oferta cierre el 25 de marzo de 2025.
El colocamiento será liderado por Terraflos Inc, una empresa latinoamericana controlada por Facundo Garreton, quien se desempeña como Presidente, CEO y director de Blueberries. Los ingresos se utilizarán para financiar y expandir operaciones, así como para fines generales corporativos y de capital de trabajo.
Tras la oferta, la propiedad de Garreton a través de Terraflos aumentará a aproximadamente 62.67% de las acciones comunes en circulación en una base parcialmente diluida, frente al 61.23% antes de la oferta. La transacción califica como una transacción entre partes relacionadas, pero está exenta de requisitos de valoración formal y aprobación de accionistas minoritarios.
블루베리 메디컬 코퍼레이션 (CSE: BBM) (OTC: BBRRF)는 주당 C$0.011로 96,064,935주를 비중개 사모 방식으로 배정하여 약 C$1.05 백만 (US$740,000)을 모금할 계획을 발표했습니다. 이번 공모는 2025년 3월 25일에 마감될 예정입니다.
이번 배정은 블루베리의 회장, CEO 및 이사인 파쿤도 가레톤이 지배하는 라틴 아메리카 회사인 테라플로스 Inc가 주도할 것입니다. 수익금은 운영 자금과 확장을 위해 사용되며, 일반 기업 운영 및 운전 자본 목적에도 사용될 예정입니다.
이번 공모 후, 테라플로스를 통한 가레톤의 소유권은 부분적으로 희석된 기준으로 약 62.67%로 증가하며, 이는 공모 이전의 61.23%에서 증가한 수치입니다. 이 거래는 관련 당사자 거래로 분류되지만, 공식 평가 및 소액주주 승인 요건에서 면제됩니다.
Blueberries Medical Corp (CSE: BBM) (OTC: BBRRF) a annoncé un placement privé non intermédié de 96.064.935 actions ordinaires à C$0,011 par action, visant à lever environ C$1,05 million (US$740.000). L'offre devrait se clôturer le 25 mars 2025.
Le placement sera dirigé par Terraflos Inc, une entreprise latino-américaine contrôlée par Facundo Garreton, qui est Président, CEO et directeur de Blueberries. Les produits seront utilisés pour financer et étendre les opérations, ainsi que pour des besoins généraux d'entreprise et de fonds de roulement.
Après l'offre, la part de Garreton via Terraflos augmentera à environ 62,67% des actions ordinaires en circulation sur une base partiellement diluée, contre 61,23% avant l'offre. La transaction est considérée comme une transaction entre parties liées, mais est exemptée des exigences d'évaluation formelle et d'approbation des actionnaires minoritaires.
Blueberries Medical Corp (CSE: BBM) (OTC: BBRRF) hat eine nicht vermittelte Privatplatzierung von 96.064.935 Stammaktien zu je C$0,011 angekündigt, mit dem Ziel, etwa C$1,05 Millionen (US$740.000) zu sammeln. Die Platzierung soll am 25. März 2025 abgeschlossen werden.
Die Platzierung wird von Terraflos Inc geleitet, einem lateinamerikanischen Unternehmen, das von Facundo Garreton kontrolliert wird, der als Vorsitzender, CEO und Direktor von Blueberries fungiert. Die Erlöse werden verwendet, um die Betriebe zu finanzieren und auszubauen sowie für allgemeine Unternehmens- und Betriebskapitalzwecke.
Nach der Platzierung wird Garretons Eigentum über Terraflos auf etwa 62,67% der ausstehenden Stammaktien auf einer teilweise verwässerten Basis steigen, verglichen mit 61,23% vor der Platzierung. Die Transaktion gilt als eine Transaktion mit nahestehenden Parteien, ist jedoch von den Anforderungen an eine formelle Bewertung und die Genehmigung von Minderheitsaktionären befreit.
- Secured C$1.05M (US$740,000) in additional funding for operations and working capital
- Strong insider participation demonstrates management confidence
- Significant dilution for existing shareholders
- Share price of C$0.011 indicates very low market valuation
- Increased control concentration with CEO owning 62.67% of shares
- Related party transaction raises potential conflict of interest concerns
TORONTO, March 25, 2025 (GLOBE NEWSWIRE) -- Blueberries Medical Corp. (CSE: BBM) (OTC: BBRRF) (FRA: 1OA) (the "Company" or "Blueberries"), a Latin American licensed producer of medicinal cannabis and cannabis-derived products, is pleased to announce a non-brokered private placement consisting of the sale of 96,064,935 common shares ("Common Shares") at a price of C
It is expected that the Offering will be led by Terraflos Inc. ("Terraflos"), a company with operations throughout Latin America founded and controlled by Facundo Garreton ("Mr. Garreton"), who serves as the Chairman, CEO, and a director of Blueberries. Terraflos is currently exploring various prospects in Argentina, Mexico, and Brazil and aims to expand its operations into those markets in the short term. The company's objective is to satisfy food and medicine needs in the near future using non-conventional methods, without exploiting natural resources as is common in current methodologies. In addition, Guillermo Rodriguez, a director of the Company, is also expected to participate in the Offering.
Early Warning Disclosure
Immediately prior to the Offering Mr. Garreton, directly and through Terraflos, owned 242,346,666 Common Shares, options exercisable into 5,049,500 Common Shares (the "Options"). If the Options were exercised in full, it would result in the issuance of 5,049,500 Common Shares to Mr. Garreton for an aggregate holdings on an as converted basis of 247,396,166 Common Shares, representing, on a partially diluted basis, approximately
Mr. Garreton, through Terraflos, acquired the Common Shares for investment purposes, and he may, depending on market and other conditions, increase or decrease his beneficial ownership, control or direction over additional securities of the securities or otherwise. Other than as noted above and a right to a board seat for so long as Mr. Garreton holds at least
Mr. Garreton will prepare and file a report containing the information required by Form 62-103F1 - Required Disclosure under the Early Warning Requirements in connection with the matters referred to in this press release. Once filed, a copy of the early warning report will be available under the Company’s issuer profile on SEDAR+ at www.sedarplus.ca.
Participation by Terraflos and Mr. Garreton in the Offering was considered a "related party transaction" pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company was exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with Terraflos’ and Mr. Garreton’s participation in the Offering in reliance of sections 5.5(b) and 5.7(1)(b) of MI 61-101. A material change report was filed in connection with the participation of Terraflos and Mr. Garreton in the Offering less than 21 days in advance of the closing of the Offering, which the Company deemed reasonable in the circumstances so as to be able to avail itself of potential financing opportunities and complete the Offering in an expeditious manner.
About Blueberries Medical Corp.
Blueberries is a Latin American licensed producer of premium quality cannabis derivatives with its primary operations ideally located in the Bogotá Savannah of central Colombia. The Company is led by a specialized team with proprietary expertise in agriculture, genetics, extraction, medicine, pharmacology and marketing, Blueberries is fully licensed for the cultivation, production, domestic distribution, and international export of CBD and THC-based medical cannabis in Colombia. Blueberries' combination of leading scientific expertise, agricultural advantages and distribution arrangements has positioned the Company to become a leading international supplier of naturally grown, processed, and standardized medicinal-grade cannabis oil extracts and related products.
Additional information about the Company is available at www.blueberriesmed.com. For more information, please contact:
Gustavo Gutiérrez, Country Manager, Colombia Operations
ggutierrez@blueberriesmed.com
Tel: +57 317 667 4812
Thomas Rodriguez Prats, Chief Financial Officer
trodriguez@blueberriesmed.com
Tel: +57 311 617 4246
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the use of proceeds from the Offering, commencement of commercial production of CBD-dominant oils and products, successful implementation of full GMP standards at its extraction facility to allow for additional export potential to international markets, achieving additional milestones is contemplated, or at all, ability to expand distribution networks, ability to expand and upgrade the Company’s cultivation facilities in Colombia, internal expectations, expectations regarding the ability of the Company to access new Latin American and international markets, the ability to attract and retain new customers, and future expansion plans including development of the cultivation, production, industrialization and marketing of cannabis for commercial and scientific purposes.
These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: fluctuations in general macroeconomic conditions; fluctuations in securities markets; expectations regarding the size of the Colombian and international medical cannabis market and changing consumer habits; the ability of the Company to successfully achieve its business objectives; plans for expansion; political and social uncertainties; inability to obtain adequate insurance to cover risks and hazards; and the presence of laws and regulations that may impose restrictions on cultivation, production, distribution and sale of cannabis and cannabis related products in Colombia, Argentina and elsewhere; and employee relations. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
Additional information regarding the Company, and other risks and uncertainties relating to the Company's business are contained under the heading "Risk Factors" in the Company's Listing Statement dated January 31, 2019 and such other risk factors included in the management’s discussion and analysis of the Corporation for the year ended December 31, 2023, each filed on its issuer profile on SEDAR+ at www.sedarplus.ca.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
